Ecom201

Running head: ECONOMICS 1

ECONOMICS 11

Student’s Name

Department, Institutional Affiliation

Course Title

Tutor’s Name

Date

1. An overview of GoTech company (0.5 marks)

GoTech firm is a Saudi company that is found in Riyadh and is registered with Saudi ARAMCO. It was founded in 2006 and its main focus is Oil and Gas business in Saudi Arabia. The firm is also specializing in offering technical and digital solutions to the business and people considered to be its clients. Most of its operations are centered within the Saudi market. However, it has expanded its operation in the other two offices in Egypt and Italy (Snower & Twomey, 2020). The firm has its CEO known as Eng. Abdullah with the three regional managers found in three different nations. There are about 30 workers who are working under these three managers.

1. Description of the type of management that GoTech follows. (1 mark)

Concerning the type of management, GoTech is using the Hybrid type of management. In this type of management, it is clear that GoTech is a vertical organization at the top that is specific for its region with no further connections to the services it offers. In addition, the bottom of the organization is characterized by a horizontal approach and this means that it has mixed responsibilities (Tooranloo et al., 2017).

1. Description of the challenges with that type of management. (1 mark)

· Communication challenges

· Cultural and political challenges 

Various challenges are encountered based on the adoption of the hybrid management type that is used by GoTech firm. One of the challenges is related to communication. The organization has 30 workers operating in the 3 regions within the three regional managers to report to. This responsibility is made difficult as a result of the communication challenges. The organization has no fixed reporting for the 30 workers hence they are facing the challenge of how to go after their work (Tooranloo et al., 2017).

The other challenge is the cultural and political challenges whereby the 30 workers have no understanding of the cultural and the political factors within the three different regions of operation. The process through which the management is handling its customers is not perfect. Therefore, the changes that need to be brought are to ensure that there is a change in the strategy from the hybrid organization to an organization that is focused on service (Snower & Twomey, 2020). The organization is offering five unique categories of services, therefore, it is important to create service focus managers who will work with the 30 employees who are divided into five teams. ??? I can't understand what you mean , talk in details like this answer:

Gotech should be aware of existing and future challenges that can risk the company sustainability. Existing challenges that Gotech is facing are the Covid19 pandemic, communication, existing competition and workflow management. Since the company is operating in several locations, lockdowns differ from a country to another. Therefore, working remotely is the only solution to pursue the business normally. Besides, the CEO should provide the staff with the needed tools and equipment for full access remotely. Gotech staff come from different cultural backgrounds with different native languages. Since the company might be operating remotely, the team should be prepared to conduct virtual meetings to avoid miscommunications and misunderstandings. Also, English is becoming an international language, it will be the best choice of communicating with regional staff. The digital and technical world is wide. Therefore, Gotech 11 should have a competitive advantage in the market to sustain its provided solutions and services. Finally, workflow management should remain organized to avoid losses. Gotech should be aware also of potential challenges that might arise in the future. Potential challenges are technological advancements, problem-solving issues, cyber hacks and future competition. The world is changing quickly in parallel with technology. Knowing that Gotech sells digital and technical solutions, it should be aware of the latest technological trends and movements. The company should also develop robust problem-solving skills to face any obstacle easily. Cyberattacks are a real threat to most businesses nowadays, Gotech should hire a skilled IT workforce to diminish those risks. Finally, future competition is a threat that can be avoided by keeping up to date on the latest market trends.

1. Description of the necessity for creating a virtual Risks Response Team based on Tuckman’s Team Life Cycle Model (see figure 1). (3 marks)

· Phases of team creation

At the forming stage, the 30 employees might not be prepared to prepare for the training on the need to adopt some technologies in the organization and use the measures put in place to overcome the adverse effects of the coronavirus pandemic so that they can successfully compete with other firms. This stage is characterized by a low level of communication and the management is yet to define its objectives in overcoming these issues (Herhausen et al., 2020. Therefore, the team must be involved in every aspect of the plans or changes. The employees must be informed about the need to make necessary changes towards the advancement of the technology and adopt the measures that can assist in overcoming the pandemic and competition.

Once the members have been involved in the process, the management enters into the stage known as storming. In this case, employees feel part of the team and they bring their opinions on the necessary solutions that should be adopted. In such a process, there is an emergence of conflicts that might be caused by differences in opinions or misunderstandings on the best solution that needs to be adopted. In this case, the management has the responsibility of ensuring that the goals aimed at overcoming the pandemic, increasing the technology adoption in the organization, and utilization of the measures to overcome the competition are well understood by the team.

Once the objectives are made clear, the next is where everything becomes normal as the team understands what is best for the organization. Therefore, rules are set to guide the implementation of the interventions for example training of the employees on the necessary skills and knowledge required for the successful implementation of the technology within the organization. The team is also made to understand the importance of cultural competence and the political environment of the three regions they intend to operate i.e. Saudi, Egypt, and Italy. The team also learn about the approaches used by their competitors in their operations (Gas and Oil Technologies, 2018). At this point, the team has developed good relationships and is now more dependent and knows one another.

The focus now is on the implementation of the proposed interventions or approaches in addressing issues of a pandemic, technology advancement, and competition. The team is required to remain one unit with every member understanding their roles. While implementing the interventions, they must focus on the goals and actions. There is a need to have clear levels of communication between the department on some of the challenges experienced throughout the implementation process (Gas and Oil Technologies, 2018).

· Criteria for choosing the team 

· Who are they, and why did you choose them?

Concerning the need to create a virtual Risk Response Team that is based on the Tuckman's Team Life Cycle Model, there is a need for the organization to be prepared to overcome the issues associated with present competitors, rapid development in the technology, and the current pandemic of COVID-19 to ensure that the organization keeps running. Based on Tuckman's Team Life Cycle, it is important to ensure that employees are prepared for such changes (Snower & Twomey, 2020).

The team needs to be involved in the whole process of overcoming these challenges. There are different members required to form the virtual Risks Response Team. The team will involve informaticists and other professionals in information technology. These professionals play a huge role in educating or training the employees on the procedures of adopting and implementing the technology. They are also responsible for informing the management about the required resources and the total cost needed (Herhausen et al., 2020).

The other essential team and the quality assurance team, the data analyst, and the professional responsible for financial analysis will inform the management on the necessary measures to be taken in promoting the continuous working process even during the pandemic and promote digital marketing which can be used to replace some face to face marketing. A marketer is also required to inform on how the market has been affected by the pandemic and some of the approaches that have been adopted by the competing firms in the three regions (Herhausen et al., 2020).

0. Pros and cons of the virtual team

Where is the Pros and cons of the virtual team?

4. Description of the regional managers’ roles (2 marks)

0. What qualities must they have as leaders? 

The regional managers have key roles to play in ensuring the continuity of the firm. The current managers in the three regions are currently focusing on ensuring that the organization is kept operating by addressing issues such as the current competition, ensuring that there is the adoption of the technology within the organization, and ensuring that the impact of the current COVID-19 pandemic is overcome. Therefore, this leader will be required to have qualities such as the ability to self-motivate, effective communication skills, ability to share, prowess in solving issues, a team-building ability, and expertise in technology (Gas and Oil Technologies, 2018). The leader must also be able to understand the cultural and political differences of the countries where the organization is operating.

0. How can they motivate themselves and their team? 

The ability to self-motivation is important in the motivation of the other 30 workers. In this case, the leaders must be able to get themselves going on the current project and to work independently in taking every next step towards its completion.

0. What digital recourses can they use to manage the team?

One of the digital resources that can be used to manage the team and ensure that there is continuous consultation is social media. For example, Zoom, WhatsApp and emails are becoming essential tools of communication globally. When the organization is responsible for multiple Twitter accounts, the leadership can use TweetDeck to condense all the Twitter accounts into one easy -o-manage dashboard. Another digital resource is content management whereby the market can produce the product or service and sell it (Williamson, 2021). The leader can utilize Bynder's DAM leverages AI-powered search techniques to filter the searches. Also, Cloud software such as Dropbox and Google Drive are great tools to share tasks with teammates and managers. The leadership can also use the analytics by relying on the Bynder that provides content and ROI analytics within the organization DAM.

make the examples more known and simpler than this

Part 2 

5. Description of challenges that loom over GoTech (1 mark)

0. Existing challenges/ disasters

0. Potential challenges/ disasters

The current challenge within GoTech is related to making vital decisions in ensuring that the organization is kept operating as it faces challenges such as the new ad the present competitors, the rapid advancement in the technology, and how to overcome the current pandemic of COVID-19. Therefore, overcoming these problems is likely to cause more future issues. In this case, the potential future issues are large sums of cash required to ensure that the information technology resources are purchased and funds for training of the employees to acquire the skills and knowledge to successfully implement the technology. The organization is also facing the challenge of competition and this means that in the future, it has to ensure that the marketing team is involved in the process of designing suitable interventions to overcome some challenges posed by the competitors (Woudhuysen et al., 2021).

The organization is also facing the problem of ensuring that it is not affected by the unpredictable future impacts that have been brought by the coronavirus pandemic. The organization is therefore forced to develop the necessary measures for example the adoption of online marketing to reach its clients who are also struggling to make income. The organization is also at risk of ensuring that the current employees are not relieved from their duties as a result of the adverse impacts of the covid-19 (Gas and Oil Technologies, 2018). The other future challenge is related to the political and cultural impacts whereby the team has to be trained to understand each culture of its customers and the rules and regulations on the nations they are operating in.

6. Description of GoTech resources (1 mark)

0. What are the digital and financial resources?

0. How can these resources be utilized? There is no answer

Various resources are offered by the GoTech firm. The digital and financial resources are generated from the digital products or services offered by the organization. The financial resources are generated from the trading, services, digital solutions and AI, and marine. The digital resources include Cannseal, Cubility, the Dril Quip, Interwell, Mohawk Energy, and Excellence Logging. There is also Petroval and the Sertecpet. ( Make it more easy to understand the examples if u can)

7. Description of GoTech digital capabilities (2 marks)

0. Existing capabilities that can be strengthened

0. Needed capabilities that must be invested in

There are various digital abilities of this firm and one of them is based on its product and services that involve the digital solutions & AI that includes the INT, Resoptima, and the Sekal. The INT has resulted in the creation of products that assists oil and gas firms to visualize, perform monitoring, and evaluating their data. This area needs to be improved by ensuring that the management is delivering unprecedented interaction and access to their data (Gas and Oil Technologies, 2018).

The organization through its digital platform has introduced Resopotima that offers software solutions and consultancy to some of the challenges in the engineering sector. The needed improvement in this area is to ensure that there is a successful integration of the modeling tools that is important in the empowerment of the subsurface resource team.

Based on the required solutions, the process of having a successful virtual risk response team requires the process of offering prior information to the team about the potential changes they should be expecting. This is important in ensuring that the life cycles of the project are overcome and that the team members operate with little resistance. An effective communication process is necessary. Overcoming the present and the potential or future disaster requires preparation and effective interventions that address issues related to technology, competition, and the effect of covid-19. It is important to have a team of informatics, data analysts, and marketers who must be provided with the required resources to offer effective solutions (Gas and Oil Technologies, 2018). To ensure that there is maintenance and improvement in the digital capabilities of the firm, the organization must ensure that there is an integration of the reservoir modeling tools to help in the empowevngxcrment of the subsurface resource team.

8. Description of the solutions (3 marks)

0. Immediate solutions (based on points 4, 6, 7, & 8)

0. Future solutions (based on points 5, 6,7, & 8)

1. The organization also needs to have future solutions and the first one is to ensure that the team of developers and the owners of the digital products provide unprecedented interactions to the organization's data. It is also important to ensure that the regional managers are effectively assessed for their qualifications to ensure that they have the qualities required to overcome the presented challenges and move the organization forward. Thorough recruitment for the management position of the three regions must be done. The organization must also ensure that the needs of the customers in terms of the services required are met (Gas and Oil Technologies, 2018). The organization must ensure that there is an existence of good cooperation with the clients and communication to understand their needs.

9. Closing remarks/ conclusion (0.5 marks)

In conclusion, GoTech firm must make the necessary effort to overcome the present and future problems associated with the issue of technology advancement, the threat from the covid-19 pandemic, and competitors, especially in the three regions. Therefore, it is the responsibility of the management to ensure that the managers with the three regions have the qualities required to address this problem at present and prevent future issues that might affect the smooth running of the firm. The management must also ensure that its employees are equipped with the skills and knowledge required for the successful implementation of the technology. A stronger and effective marketing team must also be established to advise on the necessary intervention to overcome the competition.

References

Gas and Oil Technologies. (2018). GOtech. Retrieved from http://gotech.com.sa/ Herhausen, D., Miočević, D., Morgan, R. E., & Kleijnen, M. H. (2020). The digital marketing capabilities gap. Industrial Marketing Management, 90, 276-290.

Snower, D., & Twomey, P. (2020). Humanistic digital governance.

Tooranloo, H. S., Azadi, M. H., & Sayyahpoor, A. (2017). Analyzing factors affecting implementation success of sustainable human resource management (SHRM) using a hybrid approach of FAHP and Type-2 fuzzy DEMATEL. Journal of cleaner production, 162, 1252-1265.

Williamson, B. (2021). Making markets through digital platforms: Pearson, edu-business, and the (e) valuation of higher education. Critical Studies in Education, 62(1), 50-66.

Woudhuysen, J., Kosack, E., & Stone, M. (2021). DESIGN, INNOVATION, AND MARKETING RESEARCH. The Routledge Companion to Marketing Research.